Document: FarmLink raises additional $24.6M for ag tech
January 19, 2016 | Bobby Burch
Ag tech startups in Kansas City are plowing a promising 2016.
Kansas City-based FarmLink recently secured nearly $24.6 million in investment capital for its farming technology, according to a Securities and Exchange Commission filing.
The company offers a suite of tech services for farmers, including analytics platform TrueHarvest and machinery sharing platform MachineryLink Sharing.
TrueHarvest is a yield benchmark tool that helps farmers validate the impact of environmental variables to optimize production of crops. Through the MachineryLink platform, farmers can pay to use farm equipment when needed and also earn money for renting their equipment when it’s not in use. FarmLink says that lessees will have on-demand access to an inventory of equipment at varying costs, offering them enhanced flexibility, cash flow and revenue.
FarmLink has raised about $67.8 million in capital to date with OpenAir Equity Partners as its primary investor. Founded in 2010, the company has 80 employees and was co-founded by Ron LeMay, David Govert and David Forsee.
FarmLink’s most recent raise comes on the heels of another local ag tech success story. Farmobile announced in December that it raised $5.5 million in a Series A round from a large Amsterdam-based venture capital firm. Founded in 2013, Farmobile invented a device — or Passive Upload Connection (PUC) — that plugs into a tractor’s diagnostic port to collect a variety of farming data, such as info on planting, spraying, fertilization, harvest, fleet management and more.
2016 Startups to Watch
stats here
Related Posts on Startland News
Brookside couple envisions upscale neighborhood escape in former Michael Forbes spot
A couple who first met as servers at a restaurant on the Country Club Plaza are setting the table for a new venture in Brookside: an “elevated” neighborhood bistro and bottle shop that’s expected to open in early 2025. After a light remodeling, Hannah Koenig and Avery Bailey plan to open CRU in late January…
KC Pioneers scored Kansas City a spot on the ‘gaming wave’; why this pro esports teams views its hometown as a championship asset
In the globe-spanning esports market, most of the top competitive gaming teams keep their hometown — if they have one — ambiguous to the public. With the industry expected to touch 1 billion people worldwide by 2029 and players untethered to physical locations, it’s simply an unimportant biographical detail to many. And potentially limiting for others.…
How a $527M development is poised to transform KC’s last ‘Wild West’ neighborhood
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. A New York developer plans to renovate several historic West Bottoms buildings into apartments and office space, in addition to new…
Imitators beware: KC’s viral, must-have hat flips the script on hometown pride that can’t be duped
It’s the favorite hat of influencers and athletes alike; Meet the KC native under the brim One of the most in-demand hats in Kansas City — spotted on KC athletes like Patrick Mahomes and Bobby Witt Jr. and an array of popular influencers — is driven by a hometown pride that transcends location, said Taylor…